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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

April 2025 Poll

Do you believe our tax system needs to be reformed and if so, what would be your first improvement? If not, what do you like about it?
Yes: 52 votes
98.11%
No: 1 votes
1.89%
 

Cast Your Vote

CRA Improves Services Standards: Their New Three-Point Plan

Last year, the Canada Revenue Agency received extensive criticism for failing to meet basic service standards. But things have recently improved at the CRA; 74 percent of calls are being answered by an agent or auto assistant, compared to the mere 37 percent in 2015, which prompted this fall’s Auditor General Report. The CRA now intends to ensure things get even better, and responded to the criticisms on June 12, 2018 with a three-point action plan.

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Considering Buying a Business? Guidelines for Navigating Employee Rights

Our June poll asks readers whether or not they believe the self-employment route pays off in the long run, or whether having the financial security provided by an employer paycheque is smarter. Be sure to weigh in with your views, but in the meantime, Knowledge Bureau author Philippe Richer provides food for thought for those considering leaving the 9-to-5 behind for self-employment.

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House Flipping: What are the Tax Consequences?

Increasing interest rates have sparked a warning from the International Monetary Fund (IMF) that approaching headwinds could affect housing values; potentially good news for Canadians looking to enter the housing market. But there is also tax risk for investors intending to purchase and flip real estate, and a good opportunity for tax and financial advisors to provide valuable counsel.

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U.S. Repatriation Tax Is Hitting Canadians Hard: Are Your Clients Affected?

Donald Trump’s U.S. tax reforms are having a significant spillover effect north of the border, as many individuals with private businesses in Canada are facing an enormous tax bills in the U.S. If your client base includes any corporation in which a U.S. shareholder controls at least 10 percent of the voting rights or value, you need to know the details of this punitive measure.

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CRA to Send Instalment Payment Notices in August: Your Tax Remittance Options

You’re not in the clear yet! In August, the CRA will be notifying individuals who will be required to remit an instalment payment by the September 15 and December 15 deadlines. Even if you weren’t required to make an instalment payment on June 15 or earlier this year, you might still be subject to paying in instalments. This means that now is the time to review whether you need to save throughout the summer for yourself or for the taxman!

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